Prices of both Chinese imported charge chrome and UG2 chrome ore continued to rise in the week to Tuesday January 12, supported by a surging domestic spot ferro-chrome market.
The city of Ulanqab, a major ferro-alloy production hub in China's autonomous region of Inner Mongolia, has ordered smelters to shut down their small furnaces. The expectation of resultant lower supply in the short term immediately boosted sentiment in the spot market, sending the Chinese domestic ferro-chrome price to a 20-month high.Simultaneously, Fastmarkets' ferro-chrome, 50% Cr, import, cif main Chinese ports assessment surged to $0.82 per lb contained Cr on Tuesday, up 4 cents (5%) from $0.78 per lb from the previous pricing session and the highest since May 27, 2019.
...